Overview
The Barack Ferrazzano Financial Institutions Group served as legal counsel to HBT Financial, Inc. (“HBT Financial”) (Nasdaq: HBT), the holding company for Heartland Bank and Trust Company (“Heartland Bank”), in connection with its issuance and sale of $85 million in subordinated notes in a private placement transaction with institutional investors.
The notes bear interest at a fixed rate of 5.75% for the first five years and will reset quarterly thereafter based on the three-month SOFR rate plus 233 basis points. The notes are intended to qualify as Tier 2 capital for regulatory purposes. HBT Financial expects to use the proceeds for general corporate purposes, which may include potential share repurchases.
HBT Financial, headquartered in Bloomington, Illinois, provides financial products and services to consumers, businesses, and municipal entities throughout Illinois, eastern Iowa, and suburban St. Louis through 83 full-service branches. As of December 31, 2025, HBT Financial had total assets of $5.1 billion, total loans of $3.5 billion, and total deposits of $4.4 billion.
Barack Ferrazzano’s legal team was led by partner Abdul R. Mitha and associate Camryn C. Dreyer.
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